During franklin roosevelt's first hundred days, congress passed the glass-steagall act to regulate banking and investments that were a major cause of the stock market crash in 1929. this law protected consumers from corporate misconduct by separating two types of banking: commercial and investing. fill in the blanks to complete the passage describing the ramifications of the repeal of the glass-steagall act.
during the 1990s economic boom, the model of free trade and deregulation allowed for congress to repeal the glass-steagall act, one of the protections for consumers against the creation of superbanks. the repeal of the glass-steagall act allowed corporations to engage in increasingly high-risk business ventures and investments, and would eventually lead to the 2007-2008 housing bubble collapse that sunk america into the great recession.